SINGAPORE – A government crowdsourcing initiative to help the public and private sectors solve technology challenges is getting a $50 million boost over the next five years. The funds for the Open Innovation Platform (OIP) will be used to co-fund more projects under the platform and deliver new features aimed at speeding up the process to find and develop solutions for challenges organisations face. The OIP managed by the Infocomm Media Development Authority (IMDA) was launched in 2018 to match business challenges faced by organisations to companies that can provide info-communication tech solutions to these problems. Providing an update on the platform on Tuesday (March 2) during the debate on his ministry’s budget, Minister for Communications and Information S. Iswaran said that it has more than 10,000 companies that can offer tech solutions. More than 190 challenges have been launched on the platform with over 60 solutions successfully developed. Mr Iswaran said that the Government will invest $50 million to enhance the OIP’s capabilities to build on this success. This will help more enterprises access innovative solutions and accelerate the deployment of digital innovations, he said. IMDA will also co-fund prototypes for solutions to challenges to help tech companies expand… Read full this story
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